Gruppo Campari Posts 8.1% Sales Growth In First Nine Months
Italian drinks manufacturer Gruppo Campari has posted revenue growth of 8.1% in the first three quarters of the year, with sales reaching €1,275.8 million.
The company, which produces brands such as Aperol, Campari, Wild Turkey and Grand Marnier, says that this was driven by strong organic growth of high-margin global priorities (+7.4%) and regional priorities (+13.5%).
Adjusted EBITDA rose by 9.8%, to €299.3 million, while adjusted group pre-tax profit increased to €224.6 million.
"We delivered very good results in the first nine months of 2017, delivering sustained growth, both in organic and reported terms, across all performance indicators," said Bob Kunze-Concewitz, CEO of Gruppo Campari.
The group says that it expects financial indebtedness to decline by the end of 2017, reflecting the sale of its non-core business and real-estate assets, alongside healthy cash flow generated by its brands.
"Looking at the remainder of the year, our outlook remains fairly balanced and unchanged," added Kunze-Concewitz.
"We remain confident in achieving a positive performance across key indicators for the year, driven by the outperformance of the high-margin global and regional priorities in key developed markets."
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.